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| AP signs Rs 1 lakh cr MoUs at Partnership Summit |
| Friday, January 13, 2012 |
It was a day of MoUs in Hyderabad on January 12,
involving almost Rs 1,00,000 crore worth proposed investments in Andhra
Pradesh over the next five years. The inaugural day of the three-day
CII Partnership Summit 2012 saw a flurry of MoUs being signed across
sectors such as power, refinery, gas, mining and education. With more
agreements being lined up for January 12, Friday, the State Government expects the
summit to end with investment proposals worth over a staggering Rs
5,00,000 crore involving top private and public sector companies.
One
of the biggest proposals came from GMR Group, which expressed interest
in investing Rs 33,000 crore for setting up a 15 million tonne
refinery-cum-petrochemicals complex and a multi-product SEZ in the
Vizag-Kakinada region. This comes in the wake of ONGC withdrawing
from the Kakinada greenfield refinery-cum-petrochemicals project, with
the GMR Group proposing to pick up the divested stake.
BR Shetty
Group has expressed interest to invest another Rs 30,000 crore to put up
a refinery project at the PCPIR region in Visakhapatnam. The Yash
Birla group concluded a MoU involving an investment of Rs 13,000 crore
to set up a sports city (Rs 2,000 crore) and an Ayurveda complex (Rs 750
crore), Rs 10,000 crore poly silicon plant, within the next 18 months.
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| Tags: Ap, Ap Mous Partnership Summit-2012, Ap Mous Partnership Summit-2012 Gmr Group, Ap Mous Partnership Summit-2012 Gmr Group Br Shetty Group, Ap Mous Partnership Summit-2012 Gmr Group Br Shetty Group Yash Birla Group, Ap Mous Partnership Summit-2012 Gmr Group Br Shetty Group Yash Birla Group Hyderabad, Ap Mous Partnership Summit-2012 Gmr Group Br Shetty Group Yash Birla Group Hyderabad Cii |
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